U.S. Hotel Appraisals Reports that the Total Number of Major and Mid-Market U.S. Hotel Transactions More Than Doubled in the First Half of 2010
After a steep fall in 2009, U.S. hotel transactions are on the rise, a trend U.S. Hotel Appraisals expects to continue through 2010.
Dallas, Texas, September 7, 2010: Hotel transactions activity in the U.S. rose from 29 sales in the first half of 2009 to 73 in the first half of 2010, according to the U.S. Hotel Appraisals 2010 Mid-Year Survey of Major and Mid-Market U.S. Hotel Transactions. The survey details confirmed hotel sales of $10 million and above (major) and hotel sales between $3.0 and $9.99 million (mid-market) that occurred in the first half of 2010.
A total of 9,521 hotel rooms traded hands in the major price category, totaling more than $1.6 billion in sales volume. In the mid-market price category, 3,116 rooms traded hands, totaling nearly $158 million in sales volume. These figures represent an increase in both total sales volume and rooms transacted for each category in the first six months of 2010 over 2009 levels.
“Given the improvements not only in the lending environment but also in market and hotel performance metrics, we expect transactions activity to continue to increase in 2010,” said Amy Beam, U.S. Hotel Appraisals Director of Hotel Transactions. “Luxury and upper-upscale hotels have noted marked gains in both occupancy and average rate in 2010 compared with last year, giving investors more confidence in the market for U.S. hotels.”
Highlights of the survey include:
• An overview of the hotel transactions market through June of 2010;
• An illustration of major and mid-market hotel transactions activity by month in the first half of 2010;
• A quarterly breakdown of transactions activity by price per room and total sales price;
• The five largest hotel transactions in each price category; and
• A listing of all confirmed hotel transactions as of July of 2010, including property name, location, buyer, seller, sale date, and selling price.
The U.S. Hotel Appraisals 2010 Mid-Year Survey of Major and Mid-Market U.S. Hotel Transactions is now available for purchase at a price of $400. To order, or for more information regarding the survey, please contact Amy Beam at
abeam@ushcapp.com. Checks and money orders accepted.
Information within the U.S. Hotel Appraisals 2010 Mid-Year Survey of Major and Mid-Market U.S. Hotel Transactions was derived from U.S. Hotel Appraisals’ extensive database of sales transactions, as well as interviews and research to find and confirm hotel sales that occurred in the first half of 2010. U.S. Hotel Appraisals serves as conduit for the data but does not assume responsibility or liability for data accuracy, usability, confidentiality, or other matters related to the survey.
About U.S. Hotel Appraisals
Founded in 2003, U.S. Hotel Appraisals is the nation's largest hotel appraisal firm dedicated to the limited-service sector of the hotel industry. U.S. Hotel Appraisals reports are cost-effective, rapidly dispatched, and conducted by hotel professionals with unparalleled credibility and expertise. Our services include hotel appraisals (single assets and portfolios), market studies, feasibility studies, and transactional advisory services. U.S. Hotel Appraisals also publishes biannual hotel transactions reports and periodic articles on hotel industry trends. With offices in Atlanta, Dallas, Denver, St. Louis, and Washington, D.C., our managing directors and professional hotel consultants can mobilize quickly to conduct hotel appraisal assignments in any market nationwide. Please visit us at www.ushotelappraisals.com and contact one of our managing directors to learn how we can help you.
Contact:
Amy Beam
U.S. Hotel Appraisals Director of Hotel Transactions
+1 214.629.9728
abeam@ushcapp.com